Unimpressed by the controversy surrounding the SushiSwap listing, Binance announced its support for the new Uniswap token just an hour after it was announced.
The governance protocol of the decentralized financial platform (DeFi) UNI was activated on Ethereum (ETH) about 90 minutes ago.
1 billion UNI tokens will be gradually released over the next four years, with 15% being released immediately to previous users of the platform. A total of 60% goes to community members, while the remaining 40% goes to team members, investors and consultants with a contract period of up to 4 years.
The official announcement said UNI would ensure that Uniswap is community-run and self-sustaining:
“The introduction of UNI (ERC-20) serves this purpose and enables shared ownership of the community as well as a lively, diverse and committed system of governance that actively steers the protocol into the future.”
Binance was quick to promote the announcement, stating that trading on the UNI / BTC, UNI / BNB, UNI / BUSD and UNI / USDT trading pairs will open at 3 a.m. UTC on September 17th. However, the deposits are already open, he warned:
“”UNI is a new token that presents a higher risk than normal and therefore is likely to be subject to high price volatility. Make sure you have adequate risk management in place, have done your own research on UNI fundamentals, and fully understand the project before deciding to trade. “
This news is still under development …